【法规名称】
【法规编号】 68885 什么是编号？
【正 文】
第4页 CAP 372 KOWLOON-CANTON RAILWAY CORPORATION ORDINANCE
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[接上页] (7) The Director of Lands shall give notice in the Gazette of the deposit in the Land Registry of the plans referred to in the Fifth Schedule. (Added 56 of 1986 s. 6. Amended 8 of 1993 s. 2; L.N. 291 of 1993) ____________________________________________________________ Note: * The Acting Governor has appointed 1 February 1983 as the appointed day-L.N. 30 of 1983. Cap 372 s 7A Vesting of land in the Corporation (1) Notwithstanding section 7, where the Director of Lands is satisfied that it is necessary for the operational purposes of one or more of the railways, he may for such purposes vest in the Corporation land or interests or other rights in respect of land, subject to such terms, conditions and reservations as he may determine. (2) The vesting shall take effect upon the Director's depositing in the Land Registry a plan signed by him showing the land or interests or other rights in respect of land being vested. (3) The Director shall, by notice in the Gazette, publish a statement that a plan has been deposited in the Land Registry pursuant to the vesting of land or interests or other rights in respect of land under this section. (4) Where- (a) land or an interest or other right in respect of land has, under subsection (1), been vested in the Corporation for the operational purposes of one or more of the railways; and (b) the Corporation wishes to use the land or interest or right for a different purpose,the Corporation may request, in writing, that the Director consent to the proposed change, and the Director may, in giving his consent, impose such terms, conditions and reservations as he thinks fit, including requiring the Corporation to pay a premium. (Added 13 of 1998 s. 5) Cap 372 s 7B Land no longer required by the Corporation (1) Notwithstanding section 7 but without prejudice to section 7A(4), where- (a) the Director of Lands and the Corporation agree; or (b) the Director of Lands, in the absence of such agreement, is satisfied,that land or any interest or other right in respect of land that has been vested in the Corporation is no longer required for the operational purposes of one or more of the railways, he may divest such land or extinguish such interest or other right, and section 7A(2) and (3) shall apply to such divesting or extinguishing with the necessary changes. (2) Where land is divested or any interest or other right in respect of land is extinguished under this section, the Corporation shall, at its expense- (a) discharge all encumbrances and shall pay all relevant fees, costs and charges which may be levied in respect of such divesting or extinguishing; (b) remove all buildings and structures and thereafter either reinstate the land to its former condition to the satisfaction of the Director or put the land in such other condition as the Director may specify.(3) Upon the divesting of land or the extinguishing of any interest or other right in respect of land, the Government shall have full power to deal with such land as it deems fit, free of all rights or claims on the part of the Corporation. (4) For the avoidance of doubt, it is hereby declared that the Corporation has the duty to notify the Director of any land or any interest or other right in respect of land to which this section may apply. (Added 13 of 1998 s. 5) Cap 372 s 8 Capital of Corporation PART III FINANCIAL (1) The authorized capital of the Corporation shall be an amount specified by the Financial Secretary under subsection (2) and shall be divided into shares of $100000 each. (2) The Financial Secretary shall, on the day this section comes into operation, specify the amount of authorized capital of the Corporation based on the book value of all assets vested in the Corporation, rounded to the nearest $100000, and shall publish a notice in the Gazette specifying such amount. (3) The Financial Secretary may, after consulting the Corporation, increase the authorized capital of the Corporation by order published in the Gazette. (4) Shares in the authorized capital of the Corporation shall be allotted to the Government at par as required in writing by the Financial Secretary. (5) All shares allotted to the Government under this section shall be registered in the books of the Corporation in the name of The Financial Secretary Incorporated and held by him in trust on behalf of the Government. (6) The Corporation shall not issue shares otherwise than under this section. (Replaced 13 of 1998 s. 6) Cap 372 s 9 Power to borrow and to issue stock etc. (1) Subject to subsection (3) the Corporation may, in any currency and on such terms and conditions as it thinks fit- (a) borrow or otherwise raise money and charge all or any part of its property as security therefor; (b) create and issue bonds, notes or other securities which may be charged on the property, undertaking and revenue of the Corporation or any part thereof.(2) In exercise of the powers conferred by section 4 and subsection (1)(a) the Corporation may purchase property under an agreement providing for the payment of the whole or part of the purchase price by instalments. |
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